Schorsch Affiliates Cross 10% Ownership in American Strategic Investment Co. (NYC)

Rhea-AI Filing Summary

Insider purchases raised aggregate holdings above 10% — This Form 4 shows Nicholas S. Schorsch and affiliated reporting persons disclosed purchases of Class A common stock of American Strategic Investment Co. (ticker NYC). The filing reports an existing indirect holding of 520,666 shares and subsequent purchases recorded on 09/17/2025 and 09/19/2025 that increased indirect beneficial ownership to 1,020,367 shares in total. The reported purchase prices are weighted averages: one lot ranged from $9.60 to $10.04 (weighted avg $9.91) and another ranged from $9.82 to $9.90 (weighted avg $9.88).

The filing explains the ownership chain: Mr. Schorsch is sole managing member of Bellevue Capital Partners, LLC, which through a chain of entities is the record holder. The reporting group may be deemed a Section 13(d) group beneficially owning more than 10% of the company; each reporting person disclaims beneficial ownership beyond pecuniary interest.

Insights

Financial Analyst

TL;DR: Substantial insider acquisitions raised group holdings above 10%, executed near $9.9 per share, which is a material ownership increase.

The reported transactions show concentrated purchases that raised indirect holdings from 520,666 to 1,020,367 Class A shares through affiliated entities. Purchases occurred on 09/17/2025 and 09/19/2025 at weighted average prices reported near $9.88–$9.91. For investors, an insider group crossing the 10% threshold is material because it can affect control dynamics and may trigger regulatory disclosures. The filing provides weighted price ranges for the trades but does not provide the exact share count at each price point; the reporting persons offer to supply that detail on request.

Corporate Governance Expert

TL;DR: The filing documents a complex ownership chain and a potential Section 13(d) group exceeding 10% — significant for governance and disclosure.

The explanation clarifies that Mr. Schorsch controls Bellevue Capital Partners, LLC, which is the ultimate controlling person of the advisor and the record holder via multiple entities. The report expressly states the filing is made because the group may collectively own more than 10% of outstanding common stock. The report includes standard disclaimers that each filer disclaims beneficial ownership beyond pecuniary interest. Exhibit 99.1 is referenced for joint filer details but is incorporated by reference and not reproduced in-line here.

Insider Trade Summary

Net Buyer: 1,458 shares

Net Buy 4 txns

Insider SCHORSCH NICHOLAS S, Bellevue Capital Partners, LLC, AR Global Investments, LLC, American Realty Capital III, LLC, New York City Special Ltd. Partnership, LLC, New York City Advisors, LLC

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Bought 1,458 shs ($14K)

Type	Security	Shares	Price	Value
Purchase	Class A common stock	729	$9.88	$7K
Purchase	Class A common stock	729	$9.91	$7K
holding	Class A common stock	--	--	--
holding	Class A common stock	--	--	--

Holdings After Transaction: Class A common stock — 1,541,033 shares (Indirect, See footnote); Class A common stock — 26,559 shares (Direct)

Footnotes (5)

1. F1. Mr. Nicholas S. Schorsch is the sole managing member of Bellevue Capital Partners, LLC ("BCP"), who is the ultimate controlling person of the Advisor, and has voting and investment discretion with respect to the securities held of record by the Advisor. BCP is the sole member of AR Global Investments, LLC, who is the sole member of American Realty Capital III, LLC ("ARC III"). ARC III is the sole member of New York City Special Limited Partnership, LLC, who is the sole member of the Advisor, the record holder of the securities reported herein.
2. F2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.60 to $10.04, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.
3. F3. Represents shares of Class A common stock directly owned by BCP. Mr. Nicholas S. Schorsch is the sole managing member of BCP, and has voting and investment discretion with respect to the securities held of record by BCP.
4. F4. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.82 to $9.90, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.
5. F5. Represents shares of Class A common stock owned solely by Mr. Nicholas S. Schorsch.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/19/2025 - 08:00 PM Learn about SEC filing dates

FAQ

What transactions does the Form 4 for NYC report?

The Form 4 reports purchases of Class A common stock on 09/17/2025 and 09/19/2025, increasing indirect holdings to 1,020,367 shares.

How many shares did Nicholas S. Schorsch and affiliates own after the reported trades?

The filing states the reporting persons beneficially owned 1,020,367 Class A shares following the reported transactions.

At what prices were the NYC shares purchased?

Reported weighted average prices: one set between $9.60 and $10.04 (weighted avg reported as $9.91) and another between $9.82 and $9.90 (weighted avg reported as $9.88).

Does the filing indicate a change in control or group status?

The reporting persons state they may be members of a Section 13(d) group that collectively beneficially owns more than 10% of the issuer; no change-of-control action is described.

Who holds voting and investment discretion over the reported shares?

The filing explains Mr. Nicholas S. Schorsch is the sole managing member of Bellevue Capital Partners, which has voting and investment discretion for the securities held of record by the advisor.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHORSCH NICHOLAS S

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Strategic Investment Co. [ NYC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A common stock								520,666	I	See footnote(1)
Class A common stock	09/17/2025		P		729	A	$9.91(2)	1,019,638	I	See footnote(3)
Class A common stock	09/19/2025		P		729	A	$9.88(4)	1,020,367	I	See footnote(3)
Class A common stock								26,559	D(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

SCHORSCH NICHOLAS S

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bellevue Capital Partners, LLC

(Last) (First) (Middle)

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AR Global Investments, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

American Realty Capital III, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

New York City Special Ltd. Partnership, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

New York City Advisors, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Mr. Nicholas S. Schorsch is the sole managing member of Bellevue Capital Partners, LLC ("BCP"), who is the ultimate controlling person of the Advisor, and has voting and investment discretion with respect to the securities held of record by the Advisor. BCP is the sole member of AR Global Investments, LLC, who is the sole member of American Realty Capital III, LLC ("ARC III"). ARC III is the sole member of New York City Special Limited Partnership, LLC, who is the sole member of the Advisor, the record holder of the securities reported herein.

2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.60 to $10.04, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.

3. Represents shares of Class A common stock directly owned by BCP. Mr. Nicholas S. Schorsch is the sole managing member of BCP, and has voting and investment discretion with respect to the securities held of record by BCP.

4. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.82 to $9.90, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.

5. Represents shares of Class A common stock owned solely by Mr. Nicholas S. Schorsch.

Remarks:

Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer. // The Reporting Persons are filing this Form 4 because they may be deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock. The Reporting Persons expressly disclaim beneficial ownership of the securities beneficially owned by the other group members. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ See signatures attached as Exhibit 99.1	09/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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